https://www.taxtmi.com/caselaws?id=276208 Contractual interest was not shown to be excessive or usurious under the Usurious Loans Act, 1918, because the plea of agriculturist status under Section 3(2)(b) was neither properly pleaded nor supported by reliable proof. No issue had been framed on that basis, and the evidence did not establish the status with sufficient certainty. The Court also found no pleaded or proved case of substantially unfair or unconscionable bargain. In assessing excessiveness, the relevant factors include the nature and value of the security, prevailing market rates, and surrounding circumstances; on this record, the absence of evidence on security value or market rate, and the regulated character of the lending institution, meant the stipulated interest was not prima facie excessive. en-us Mon, 18 Aug 1975 00:00:00 +0530 Thu, 01 Nov 2018 18:03:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276208 Contractual interest was not shown to be excessive or usurious under the Usurious Loans Act, 1918, because the plea of agriculturist status under Section 3(2)(b) was neither properly pleaded nor supported by reliable proof. No issue had been framed on that basis, and the evidence did not establish the status with sufficient certainty. The Court also found no pleaded or proved case of substantially unfair or unconscionable bargain. In assessing excessiveness, the relevant factors include the nature and value of the security, prevailing market rates, and surrounding circumstances; on this record, the absence of evidence on security value or market rate, and the regulated character of the lending institution, meant the stipulated interest was not prima facie excessive. Case-Laws Indian Laws Mon, 18 Aug 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276208